Codelco copper production rises in September, Escondida dips

Santiago – Chile’s state-run copper giant increased production by 5.2.% year-on-year in September for a total of 123,100 tonnes, the country’s copper commission Cochilco said on Friday.

Production at BHP’s Escondida mine, the world’s largest copper mine, dropped 5.4% to 101,500 tonnes while Collahuasi, another major copper mine jointly run by Glencore and Anglo American, jumped 14% to 51,400.

Codelco has been struggling to lift its output in 2024 after registering a 25-year-low in 2023, largely due to a number of accidents and management missteps.

In July, it was revealed that the company was behind target to meet its 2024 production goals, but Codelco’s Chairman Maximo Pacheco said its production would pick up in the second half of the year.

On Thursday, Pacheco said that October was the company’s best month so far and it was able to exceed its target for that month.